Ruben Martin, a director and major holder at Martin Midstream Partners (MMLP), recently added 52,002 shares. The buy increased his holdings by 0.6 percent, and came to a total purchase price of just under $160,000.
The buy comes as a number of other company insiders have been making small buys over the past three years, although most of those have been for under 1,000 shares at a time. Over the past three years, there have been no insider sales.
Overall, company insiders own about 18.4 percent of the company.
Shares of the oil and gas midstream company are up about 26 percent in the past year. That’s occurred as revenue at the company has surged 59 percent over the same timeframe.
Action to take: Investors may like shares here, as they’re low-priced for the oil and gas pipeline space. However, the stock only yields about 0.6 percent here, which is definitely on the low side for a company structured as a partnership.
Given the low price, traders may like shares as well, as they can benefit from rising energy prices without losing time premium as an option would. While options are thinly traded for the company, the July $5.00 calls trade for about $0.25, and are cheap enough to deliver mid-double-digit gains or better.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.